Gallagher Re has become the 60th member to join the Intermediary Mortgage Lenders Association (IMLA), as an Associate Member.
Gallagher Re is part of global insurance brokerage, risk management and consulting services firm Gallagher (NYSE: AJG), headquartered in the US and offering client service capabilities in more than 150 countries through a network of correspondent brokers and consultants.
With its team of mortgage indemnity specialists, Gallagher Re creates and delivers mortgage risk solutions for partners and clients around the world.
Steven Rance, managing partner, mortgage indemnity reinsurance, at Gallagher Re, will be the appointed IMLA representative. He has made previous presentations on the UK progress under the Deposit Unlock scheme, which Gallagher Re developed in partnership with the Home Builders Federation (HBF), Homes for Scotland and the lender community.
Gallagher Re’s new membership brings the total of full and associate members of IMLA to 60, representing 90% of the UK’s largest mortgage lenders (measured by gross lending).
Kate Davies, executive director of IMLA, said: “We are delighted to welcome Gallagher Re to the team as Associate Members. We were very pleased to give them an opportunity to present to members on their innovative Deposit Unlock scheme last year – and we look forward to continuing to work with them.
“It’s always good to find fresh new ways to help our members expand the breadth and depth of their expertise, and that we can bring to our efforts in representing mortgage intermediaries and lenders across the UK.”
Steven Rance, managing partner at Gallagher Re, added: “During the development and delivery of Deposit Unlock we worked closely with many IMLA members and are keen to continue this cross-industry collaboration.
“As a sustainable solution that is enabling the return of 95% LTV mortgages for new builds at significantly reduced risk to lenders, Deposit Unlock is now fully live, gaining momentum and increasingly established with UK lenders and mortgage advisors. That makes this the perfect time for Gallagher Re to formalise its partnership approach to working together in a way that associate membership affords.”
